Visa and MasterCard have surged in the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.
Even if it’s all theatrics, the Justice department hasn’t really showed up to work in recent memory and this is a refreshing change from the void abyss DOJ usually haunts
The Bush jr administration illegally made political hiring and firing decisions for DOJ positions. We are just now getting far enough away from that to have the DOJ right itself.
According to Cory Doctorow, Rupert Murdoch owned newspapers have made over 100 editorials attempting to smear Lina Khan at the FTC. A cursory google search seems to corroborate this assertion.
I’m inclined to agree that there’s nothing ‘election year’ about these cases, and that real work is being done to claw back some measure of control from these monopolies.
The FTC sued to stop Microsoft from acquiring Activision in December 2022, but lost.
DOJ sued Google in January 2023, and won their trial last month.
The FTC and DOJ started rulemaking on new merger disclosure and review requirements in June 2023.
The FTC sued Amazon in September 2023.
DOJ sued Ticketmaster/Live Nation in May 2024.
The last two years have shown aggressive antitrust enforcement for the first time in about 50 years, when Robert Bork basically convinced the Supreme Court and all Republicans to impose almost impossible standards for antitrust regulations.
DOJ is really going at it lately.
I can’t wait to hear about the outcome of this litigation in 20-25 years.
Right?
Going after Google AND Visa?!
Even if it’s all theatrics, the Justice department hasn’t really showed up to work in recent memory and this is a refreshing change from the void abyss DOJ usually haunts
The Bush jr administration illegally made political hiring and firing decisions for DOJ positions. We are just now getting far enough away from that to have the DOJ right itself.
Something something election year. They’ll go back to sleep in December.
According to Cory Doctorow, Rupert Murdoch owned newspapers have made over 100 editorials attempting to smear Lina Khan at the FTC. A cursory google search seems to corroborate this assertion.
I’m inclined to agree that there’s nothing ‘election year’ about these cases, and that real work is being done to claw back some measure of control from these monopolies.
This stuff takes a while to get going.
The FTC sued to stop Microsoft from acquiring Activision in December 2022, but lost.
DOJ sued Google in January 2023, and won their trial last month.
The FTC and DOJ started rulemaking on new merger disclosure and review requirements in June 2023.
The FTC sued Amazon in September 2023.
DOJ sued Ticketmaster/Live Nation in May 2024.
The last two years have shown aggressive antitrust enforcement for the first time in about 50 years, when Robert Bork basically convinced the Supreme Court and all Republicans to impose almost impossible standards for antitrust regulations.
These suits aren’t even going to be started by the time the election is done
Don’t worry, I’m sure they’ll run out of money soon to fight it…